{"id":5503,"date":"2015-08-09T06:00:38","date_gmt":"2015-08-09T04:00:38","guid":{"rendered":"https:\/\/www.yamana.ch\/2015\/08\/09\/eliminating-debt-preparing-finances-for-departure-part-2\/"},"modified":"2015-08-09T06:00:38","modified_gmt":"2015-08-09T04:00:38","slug":"eliminating-debt-preparing-finances-for-departure-part-2","status":"publish","type":"post","link":"https:\/\/www.yamana.ch\/en\/2015\/08\/09\/eliminating-debt-preparing-finances-for-departure-part-2\/","title":{"rendered":"Eliminating Debt &#8211; Preparing Finances for Departure (Part 2)"},"content":{"rendered":"<p style=\"text-align: justify;\"><em><strong>Eliminating debt before departure is a very important aspect for living our long journey peacefully and without worries. <\/strong><\/em><\/p>\n<p style=\"text-align: justify;\">We live in a society where people are increasingly in debt: if once there was mainly just the mortgage, today there&#8217;s car leasing, installments for the television, installments for the microwave and for every smallest and most trivial thing. Personally I don&#8217;t like having debts, in fact the only one I have at the moment is the car lease. In less than a year the contract will end and I&#8217;ll have to evaluate what to do.  <\/p>\n<p style=\"text-align: justify;\">On one hand, leasing allows you to always have a new car and this avoids having repair costs and various surprises that you would have with an older used car. It&#8217;s true though that at the end of the contract I&#8217;ll still have to put a certain initial sum on the table to get a new car on lease, I would always have the monthly payment to make (currently CHF 330\/month) and I would have to continue paying comprehensive insurance mandatorily (currently CHF 1,350\/year). And this just for a car that I use to make at most 12 Locarno-Menton trips per year (when I go sailing) and some small evening trips around Locarno.  <\/p>\n<p style=\"text-align: justify;\">Buying a good used car, or taking over the current leased car (in this case I would also know that it&#8217;s in excellent condition), would allow me to:<\/p>\n<ul style=\"text-align: justify;\">\n<li>eliminate comprehensive insurance, probably lowering car insurance by CHF 600<\/li>\n<li>eliminate monthly lease payments (CHF 330 x 12 = CHF 3,960)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Overall I could save CHF 4,560 per year and would no longer have debts.<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Another very common debt is the mortgage on the house. A few years ago I was looking to buy an apartment, but then I didn&#8217;t conclude anything.<br \/>\nFor those who have this debt, there are two paths to take: if you intend to take only a few sabbatical years, the option of renting out the house during your absence is probably the most sensible one. You would have a monthly income and upon return there would still be the house. Clearly this option implies a certain financial responsibility, because non-payment of rent can become a problem.   <\/p>\n<p style=\"text-align: justify;\">The other possibility is to sell the house, thus extinguishing the debt and also getting something for the cruise.<\/p>\n<p>See the other articles on the topic &#8220;<a href=\"https:\/\/www.yamana.ch\/en\/tag\/finances\/\">finances<\/a>&#8220;.<\/p>\n<p style=\"text-align: justify;\">  <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- Yamana right column -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-2657041963581626\"\r\n     data-ad-slot=\"9874150793\"\r\n     data-ad-format=\"auto\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<span class=\"s1\">Last update: <span class=\"last-modified-timestamp\">Aug 9, 2015 @ 06:00<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eliminating debt before departure is a very important aspect for living our long journey peacefully and without worries. We live in a society where people are increasingly in debt: if once there was mainly just the mortgage, today there&#8217;s car leasing, installments for the television, installments for the microwave and for every smallest and most<\/p>\n","protected":false},"author":1,"featured_media":4978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[1259],"tags":[1322,1324,1323,1291,1270],"class_list":{"0":"post-5503","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-waiting-for-departure","8":"tag-accounts","9":"tag-debt","10":"tag-finances","11":"tag-planning","12":"tag-preparation"},"_links":{"self":[{"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/posts\/5503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/comments?post=5503"}],"version-history":[{"count":0,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/posts\/5503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/media\/4978"}],"wp:attachment":[{"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/media?parent=5503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/categories?post=5503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yamana.ch\/en\/wp-json\/wp\/v2\/tags?post=5503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}